Pulmonx announced today that it raised $66 million in a financing round led by global life science investor Ally Bridge Group.
The Redwood City, Calif.-based company also received contributions from new investors Adage Capital Management, HealthQuest Capital, Partner Fund Management and Rock Springs Capital, along with existing investors. Pulmonx secured an additional $17 million in growth capital through CIBC Innovation Banking for refinancing an existing debt facility.
Pulmonx said in a news release that the proceeds from the funding are earmarked for the global commercial expansion efforts for the Zephyr Valve system for severe emphysema, a form of chronic obstructive pulmonary disease (COPD).
The Zephyr Valve system is an FDA-approved minimally invasive treatment option. Its treatment is performed through a bronchoscopy with no incision or tissue resection.
“We are pleased to be able to accelerate our efforts to bring our landmark technology to severe emphysema patients who need it,” Pulmonx CEO Glen French said in the release. “The recently secured financing will ensure we are able to continue to scale our commercialization efforts to meet the global demand for our Zephyr Valve system, as well as continue R&D efforts on new minimally-invasive pulmonary treatments.”